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Wednesday, 11 August 10
BANPU SECURES TAKEOVER LOAN - BANGKOK POST
 Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, has secured loans worth US$2 billion from Thai and foreign banks to proceed with its takeover of Sydney-based Centennial Coal Co, which Banpu shareholders approved yesterday.
Chief executive Chanin Vongkusolkit said the company expected to complete its tender offer for the remaining 80.1% of Centennial by the end of September or early October at the cost of A$2.017 billion or 55.29 billion baht.
Banpu earlier acquired 19.9% of Centennial for A$380 million. On July 5, Banpu announced it would buy all of the ordinarily shares of the Australian company that it does not already control at the price of A$6.2 per share.
Mr Chanin said yesterday that the takeover would be completed after Australia's general election on Aug 21, adding that he expected the new Australian government would welcome the deal.
The company expected to book revenue contributions from Centennial in the fourth quarter of this year, he added.
Centennial, with 10 mines, has marketable coal reserves of 386 million tonnes as of June 30 this year. Banpu, which operates coal mines in Indonesia and China, has reserves of 318 million tonnes.
Shareholders yesterday also approved the management's plan to issue additional debentures worth up to 20 billion baht with maturities of up to 15 years.
Mr Chanin said Banpu would issue some debentures later this year in multiple tranches to either refinance debts or fund its acquisition of Centennial.
Banpu was confident that 2010 revenue would beat forecasts despite lower production at the Daning mine in Shanxi province due to a licence renewal delay.
The company on Monday revised down forecast production of the Chinese underground mine by 10%, resulting in expected lower net profit of $10 million. It has annual capacity of 4 million tonnes.
Mr Chanin also said the company's Jorong mine in Indonesia would resume operations in late September after being halted since February by the government because of forest encroachment. Authorities have been working with miners to clarify new operating rules.
"Indonesian coal mines are our major revenue contributor. The [total] coal sales target has been maintained at 23 million tonnes this year," he added.
CIMB-GK Securities (Thailand) has downgraded Banpu's 2010 net profit forecast by 1.4% to 14.6 billion baht following the revision of the Daning figures.
BANPU shares closed yesterday on the SET at 620 baht, down 10 baht, in trade worth 793.3 million baht.
Source: Bangkok Post
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Thursday, 13 May 10
ACTIVITY ON WEST COAST INDIA IS SLOWING - FEARNLEYS AS
DRY BULK CHARTERING
Handy
Atlantic markets remain firm but more for end May/beg June dates as there seems to be more enquiries for those dates. ...
Thursday, 13 May 10
DRY BULK SHIP OWNERS CHEERFUL AMID MARKET RALLY
China’s appetite for raw materials like iron ore and coal, as well as a series of added factors are boosting demand for dry bulk carriers, hel ...
Wednesday, 12 May 10
BANPU'S Q1 PROFIT SLIDES 43% TO B2.71BN - BANGKOK POST
The Bangkokpost reported that, Banpu Plc posted a first-quarter net profit of 2.71 billion baht, down by 43% from the same period last year.
The ...
Tuesday, 11 May 10
DALRYMPLE BAY COAL EXPORTS HIGHEST SINCE JULY; NEWCASTLE FALLS - BLOOMBERG
Bloomberg reported that, Coal shipments from Australia’s Dalrymple Bay terminal in Queensland state rose to the highest in nine months in Apri ...
Tuesday, 11 May 10
DRY BULK RATES SHOOT UP ON STRONG CARGO DEMAND
The dry bulk industry’s benchmark, the Baltic Dry Index (BDI) has kept its momentum, as predicted by analysts and shipping experts, managing t ...
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- Economic Council, Georgia
- Vizag Seaport Private Limited - India
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- Planning Commission, India
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- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
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- Coal and Oil Company - UAE
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- Wood Mackenzie - Singapore
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- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
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- Globalindo Alam Lestari - Indonesia
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- Oldendorff Carriers - Singapore
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- Merrill Lynch Commodities Europe
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- Parliament of New Zealand
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- Jaiprakash Power Ventures ltd
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- Videocon Industries ltd - India
- Singapore Mercantile Exchange
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- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
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- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
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- Indonesian Coal Mining Association
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- Sojitz Corporation - Japan
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
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- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
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- Australian Coal Association
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- SMC Global Power, Philippines
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- Posco Energy - South Korea
- White Energy Company Limited
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- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
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- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
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- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Deloitte Consulting - India
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- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
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- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
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- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
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- GAC Shipping (India) Pvt Ltd
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- PTC India Limited - India
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Eastern Energy - Thailand
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